Freight Notations Under Letters of Credit: Freight Prepaid or Freight Collect
The freight notation is a specific reference included in the transport document that indicates whether the shipper has already paid the freight costs in...
Shipping Documents
Shipping documents, when used as a term in a letter of credit, could create problems between the issuing bank and the beneficiary due to...
What Happens if Letter of Credit is Silent in Regards to the Period of...
Documents must be presented to the nominated banks within allowed time frame under letters of credit payments.
Otherwise issuing banks or confirming banks raise late...
Clean on Board Notation on Bills of Lading
What is clean on board?
A clean transport document or a “clean on board” clause relates to the condition of the goods and/or packaging.
If, on...
Dates
Whatever your position in an international letter of credit transaction, whether you are an export specialist in a small manufacturing company, an import responsible...
Is It Possible to Submit 2 Sets Bills of Lading Under One Letter of...
Amer from Ajman (United Arab Emirates (UAE)) asks this question. I would like to thank him once again for this great question.
Question: I have...
How to Handle a Letter of Credit Which Contains a Joker Clause?
"A credit should not require presentation of documents that are to be issued, signed or countersigned by the applicant" says International Standard Banking Practice...
Document Issued or Countersigned by the Applicant: What are the Risks?
What are the risks of a document which is to be issued, signed or countersigned by the applicant in a letter of credit transaction?
In...
Letter of Credit Currencies
Used as a medium of exchange for goods and services, currency is the basis of the trade.
It is expected that each country has its...
Costs Additional to Freight
If a letter of credit indicates that costs additional to freight are not acceptable, a transport document is not to indicate that costs additional...
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